Hero MotoCorp: Homegrown two-wheeler major Hero MotoCorp announced on Monday that it will implement an upward revision in the ex-showroom prices of select motorcycles and scooters, effective July 1, 2024. The price increase will be up to Rs 1,500, with the exact amount varying by specific model and market. Hero stated in a BSE filing that this revision is necessary to partially offset the impact of higher input costs.
Hero MotoCorp’s stock increased by 0.52 percent to hit a day high of Rs 5,480 after the announcement.
Approximately 3,678 shares changed hands on the BSE today, significantly lower than the two-week average volume of 29,000 shares. The counter’s turnover was Rs 2 cr, and its market capitalization (m-cap) was Rs 1,09,553.25 cr.
There were 52,442 sell orders compared to 9,557 buy orders.
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The stock was trading below the 5-day and 10-day simple moving averages (SMAs) but above the 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs. The stock’s 14-day relative strength index (RSI) was 55.15, indicating it is neither oversold (below 30) nor overbought (above 70).
Hero MotoCorp’s stock currently boasts a price-to-equity (P/E) ratio of 27.47 alongside a price-to-book (P/B) value of 6.06. The earnings per share (EPS) stands at 198.48, reflecting a robust return on equity of 22.06%.
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In a notable development, the company has announced an investment of Rs 124 crore into Ather Energy, a leading electric scooter maker, which increases Hero MotoCorp’s stake by an additional 2.2% to now over 40% of total shareholding in Ather. As of March 2024, promoters held a 34.76% stake in Hero MotoCorp.
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